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But it doesn’t. PHEVs can still regenerate during braking though. ICE only vehicles can cut fuel when off throttle, but that’s not going reclaim the heat lost to braking.
PHEVs should still be more efficient overall especially in cities and stop and go traffic.
If we had ICE only vehicles with tiny engines maybe your point could work, but we don’t anymore at least not in the US.
Ever had Moxie?
Personally I’m a Vernors ginger ale guy though (and makes a good float with homemade vanilla icecream too). A&W or one of the smaller batch places for root beer.